jensen.lavende@guardian.co.tt
Senior Reporter-Investigative
Seven people and six car companies have been ordered by the court to inform attorneys representing Ansa Bank Limited when they are spending money and where the money is coming from after their assets were frozen.
High Court Judge Justice Frank Seepersad yesterday ordered that the assets of seven employees (and the wife of one) of Ansa Bank Limited, six roll-on roll-off car dealerships be seized as the bank seeks to recoup millions of dollars borrowed through questionable means.
In granting the injunction, Seepersad agreed that the risk of injustice to the bank is greater if the order was not granted.
Seepersad further ruled that his order does not prohibit any of them from spending money on living expenses and legal services.
“However, before spending any money, the respondents must inform the applicant’s legal representatives where the money is to come from,” Seepersad ruled, adding that the defendants can dispose of their assets through the proper course of their business.
Seepersad said if the defendants put the value of their assets into the courts to hold, pending the outcome of the case, or give security in some form amounting to what the value of their assets are, then the order will be lifted.
According to the order, the employees Randy Gottsleben and his wife Adriana Ramsingh, Dwyane Rojas, Zaria Sankar, Navindra Rambarran, Reyvaan Rampersad and Kerry Ramsaroop, along with Ceylon Marketing Limited, Joalex Auto Limited, Miva Import Export Consultancy Limited, Arnold Ramjass T/A Arnold Ramjass Auto Mechanical and Painting Garage, Diamond Conception Company Limited and It’s A Deal Limited, were ordered not to dispose of, deal with or diminish the value of any of their properties.
The total value of their assets was $69,000,296.87, according to the court order.
They were also ordered to file within 24 hours all their assets in the country exceeding $10,000 whether they are part or full owner of said asset, detailing the value, location and details of the assets.
This must be handed over to the office of JD Sellier and Company who represented the bank. They also have seven days to file and serve affidavits listing the information to the court.
The order stemmed from a claim filed by the bank which stated that on or about June 27, the director of the bank, Larry Howai, was given a letter by a whistleblower who reported alleged misconduct and “disrespect for duty”.
A day later, a preliminary investigation was launched. After certain information was uncovered, a further and deeper investigation was launched, which the court was told is still ongoing.
The investigation found that there were loan transactions not in accordance with company policy.
A wider investigation was done at the Chaguanas branch of the bank where the discrepancies were found, where a conspiracy was uncovered where the bank sustained losses of almost $30 million in two-and-a-half years involving 35 vehicles and properties.
The order was sought to prevent the defendants from concealing assets if they were made to personally account for the losses.
The defendants will also have to pay the costs of the bank.